Analyst Lowers Expectations For Oxford Industries Amid Softening Trends And Increased Competition
Portfolio Pulse from Lekha Gupta
Telsey Advisory Group analyst Dana Telsey lowered the price target for Oxford Industries (OXM) to $115 from $125, maintaining a Market Perform rating. The company reported Q1 2023 net sales growth of 19% Y/Y to $420.1 million, but reduced its FY23 sales outlook and Q2 outlook below consensus estimates. Increased competition and softening trends are cited as reasons for the lowered expectations.
June 08, 2023 | 5:48 pm
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Oxford Industries' price target has been lowered to $115 from $125 by Telsey Advisory Group analyst Dana Telsey, citing increased competition and softening trends.
The lowered price target for Oxford Industries is due to the company's below-consensus Q2 outlook and FY23 guidance cut, as well as increased competition and softening trends. This negative news is likely to have a short-term negative impact on the stock price.
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